AuM data
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The fund will offer additional spread versus other similarly rated corporate debt.
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The ILS AuM in its flagship cat funds rose 13% over the half year to $6bn as of 31 October.
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The fund limits positions in aggregate structures exposed to secondary perils.
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The Italian asset manager also plans to relaunch its multi-strategy ILS fund.
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Growth included a $240mn increase in partner capital in DaVinci equity plus debt.
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The reinsurer-linked manager now offers three ILS funds encompassing private ILS and cat bonds.
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Third-party investors made a net income of $415mn in the quarter.
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The award of the mandates marks the California public pension plan’s entry into ILS.
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Returns from cat risk investments stood at 20.1% for the year to 30 June 2025.
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The allocation is around 3% of the fund’s total assets.
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The manager’s largest ILS holding is in the cat-bond-heavy High Yield fund.
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Victory Pioneer Cat Bond Fund also added assets in the past month.